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145 N Franklin St 45,045 SF 100% Leased Office Building Hempstead, NY 11550 $17,995,000 ($399.49/SF)
Investment Highlights
- 5 Minute Walk to Hempstead LIRR
- 15 Minute Drive to UBS Arena
- 2 Minute Drive to Hempstead LIRR
- 19 Minute Drive to JFK Airport
Executive Summary
This exceptional shovel-ready mixed-use development opportunity at 145 N Franklin Street in Hempstead, NY offers investors and developers the chance to deliver a high-demand senior living community in a rapidly evolving market. The project is approved for a 244-unit residential development (comprised of 232 one-bedroom and 12 two-bedroom units) designated for 62+ living, along with approximately 8,200 square feet of ground-floor commercial space, ideal for complementary retail or service-based tenants. Spanning approximately 214,345 buildable square feet on 1.6 acres, the site is strategically positioned in a central location with strong accessibility and surrounding amenities. Asking price is $17,995,000 - $69k per unit plus $139 PSF retail including existing entitlements.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Office
Building Size
45,045 SF
Building Class
C
Year Built
1965
Price
$17,995,000
Price Per SF
$399.49
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
10,000 SF
Building FAR
0.79
Lot Size
1.31 AC
Parking
36 Spaces (0.79 Spaces per 1,000 SF Leased)
Exceptionally walkable
90/100
Moderately drivable
60/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2013-34-286-00-0002-0 | Improvements Assessment | $53,541 |
| Land Assessment | $11,461 | Total Assessment | $65,002 |
Property Taxes
Parcel Number
2013-34-286-00-0002-0
Land Assessment
$11,461
Improvements Assessment
$53,541
Total Assessment
$65,002
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145 N Franklin St
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